Naira breaks one-month winning streak, weakens on official market

The Nigerian currency fell against the dollar on Thursday for the first time in one month, reversing some of its recent gains on the official market. 

The decline in the value of the naira against the greenback followed concerns over the country’s foreign reserves, which have fallen to the lowest in more than six years. 

Data from FMDQ Securities Exchange shows that the naira fell to 1,154.08 per dollar from 1,128/$ on Wednesday.